Now buying a house and land all over India can be cheap, read this good news quickly
Housing and Urban Affairs Secretary Durga Shankar Mishra praised Maharashtra Government’s decision to reduce stamp duty on the property registry. Along with this, he advised other states to do the same to increase the demand in the real estate sector.
Now buying a house and land all over India can be cheap -> If those who buy a house or land are dreaming, then they will be happy now because their dream is going to come true now. Some time ago the Maharashtra government has announced to reduce the stamp duty on the sale deed documents of the houses to three percent and now on the basis of this, Secretary of Housing and Urban Affairs Durga Shankar Mishra has said that it should be implemented in all the states. Apart from implementing this, the Secretary of Housing and Urban Affairs has also modeled the policy of the Government of Maharashtra.
Secretary of Housing and Urban Affairs Durga Shankar Mishra praised the decision of the Government of Maharashtra to reduce the stamp duty on the property registry. Along with this, he advised other states to do the same to increase the demand in the real estate sector.
Addressing a webinar
Addressing a webinar of Udyog Mandal PSD Chamber of Commerce and Industries, Mishra assured the industry that the ministry would consider all their demands. It also includes a demand for changes in the income tax law of the real estate industry, which will enable builders to reduce the sale price of flats.
The Secretary of the Ministry of Housing said that an investment of Rs 9,300 crore has been approved from a special fund of Rs 25,000 crore to complete stalled housing projects across the country. He suggested states to reduce stamp duty to speed up the sluggish demand in real estate during the Kovid-19 crisis.
Durga Shankar Mishra said
Durga Shankar Mishra said, ‘We had advised all the states to reduce it. The Maharashtra government has done this. We will ask other states to do the same. The Maharashtra government has taken a good step. This will have a positive effect on reducing costs.
Government of Maharashtra
It is noteworthy that the Government of Maharashtra on Wednesday announced the reduction of stamp duty on sale deed documents of houses to be made between September 1, 2020, to December 31, 2020, to three percent. Whereas in the period from January 1, 2021, to March 31, 2021, it was decided to reduce the stamp duty to two percent. Currently, stamp duty is five percent in urban areas and four percent in rural areas. Stamp duty is a tax levied by the state government on property transactions, which forms a major part of their income.